Informations Rapides ·
29 February 2024 · n° 54
In Q4 2023, the fall of prices of second-hand dwellings intensified (‑1.8%) Notaries-INSEE second-hand dwellings price index - fourth quarter 2023
In Q4 2023, prices of second-hand dwellings in France (excluding Mayotte) fell again over a quarter and more sharply than in previous quarter: ‑1.8% in Q4 2023 (provisional seasonally adjusted results), after ‑1.1% in Q3 2023 and -0.8% in Q2 2023.
Over a year, prices declined for the second quarter in a row: ‑4.0% in Q4 2023, after ‑1.8% in Q3 and +0.5% in Q2. Prices fell by 4.1% for flats and by 3.8% for houses .
In Q4 2023, prices of second-hand dwellings in France (excluding Mayotte) fell again over a quarter and more sharply than in previous quarter: ‑1.8% in Q4 2023 (provisional seasonally adjusted results), after ‑1.1% in Q3 2023 and -0.8% in Q2 2023.
Over a year, prices declined for the second quarter in a row: ‑4.0% in Q4 2023, after ‑1.8% in Q3 and +0.5% in Q2. Prices fell by 4.1% for flats and by 3.8% for houses .
tableauVariation in prices of second-hand dwellings in France over a year
France - flats | France | France - houses | |
---|---|---|---|
2023-Q4 | -4.1 | -4.0 | -3.8 |
2023-Q3 | -2.0 | -1.8 | -1.6 |
2023-Q2 | 0.0 | 0.5 | 0.9 |
2023-Q1 | 2.1 | 2.7 | 3.0 |
2022-Q4 | 3.4 | 4.6 | 5.5 |
2022-Q3 | 4.1 | 6.4 | 8.1 |
2022-Q2 | 4.5 | 6.8 | 8.5 |
2022-Q1 | 4.7 | 7.3 | 9.1 |
2021-Q4 | 4.6 | 7.1 | 9.0 |
2021-Q3 | 5.3 | 7.5 | 9.0 |
2021-Q2 | 4.9 | 6.3 | 7.3 |
2021-Q1 | 5.1 | 6.0 | 6.6 |
2020-Q4 | 6.4 | 6.4 | 6.5 |
2020-Q3 | 6.6 | 5.2 | 4.3 |
2020-Q2 | 7.0 | 5.6 | 4.7 |
2020-Q1 | 6.4 | 4.9 | 3.9 |
2019-Q4 | 5.3 | 3.7 | 2.6 |
2019-Q3 | 4.0 | 3.2 | 2.5 |
2019-Q2 | 4.3 | 3.1 | 2.3 |
2019-Q1 | 3.8 | 3.0 | 2.5 |
2018-Q4 | 3.4 | 3.2 | 3.1 |
2018-Q3 | 3.4 | 2.9 | 2.6 |
2018-Q2 | 3.3 | 2.8 | 2.5 |
2018-Q1 | 3.8 | 2.9 | 2.3 |
2017-Q4 | 4.3 | 3.3 | 2.5 |
2017-Q3 | 4.5 | 3.2 | 2.4 |
2017-Q2 | 3.7 | 3.1 | 2.6 |
2017-Q1 | 3.0 | 2.5 | 2.1 |
2016-Q4 | 1.6 | 1.5 | 1.4 |
2016-Q3 | 1.0 | 1.3 | 1.5 |
2016-Q2 | 0.5 | 0.6 | 0.7 |
2016-Q1 | -0.4 | 0.3 | 0.9 |
2015-Q4 | -1.1 | -0.4 | 0.2 |
2015-Q3 | -2.0 | -1.8 | -1.6 |
2015-Q2 | -3.0 | -2.6 | -2.4 |
2015-Q1 | -2.8 | -2.4 | -2.1 |
2014-Q4 | -2.4 | -2.5 | -2.6 |
2014-Q3 | -2.0 | -1.4 | -1.0 |
2014-Q2 | -1.3 | -1.4 | -1.4 |
2014-Q1 | -1.4 | -1.9 | -2.2 |
2013-Q4 | -1.8 | -1.9 | -2.0 |
2013-Q3 | -1.7 | -2.3 | -2.8 |
2013-Q2 | -1.9 | -2.2 | -2.5 |
2013-Q1 | -1.5 | -2.0 | -2.4 |
2012-Q4 | -1.4 | -2.1 | -2.6 |
2012-Q3 | -0.8 | -1.7 | -2.3 |
2012-Q2 | 1.0 | -0.3 | -1.2 |
2012-Q1 | 3.8 | 1.8 | 0.4 |
2011-Q4 | 6.2 | 3.7 | 1.8 |
2011-Q3 | 8.8 | 6.2 | 4.2 |
2011-Q2 | 10.0 | 7.1 | 4.9 |
2011-Q1 | 9.5 | 7.1 | 5.3 |
graphiqueVariation in prices of second-hand dwellings in France over a year

- Scope: France (excluding Mayotte).
- Sources: INSEE, French notaries - ADSN Group, Grand Paris notaries - PNS.
tableauVariation in prices of second-hand dwellings in France
Change in | ||||||
---|---|---|---|---|---|---|
3 months (S.A.) | 12 months | |||||
2023 Q2 (d) | 2023 Q3 (d) | 2023 Q4 (p) | 2023 Q2 (d) | 2023 Q3 (d) | 2023 Q4 (p) | |
France | -0.8 | -1.1 | -1.8 | 0.5 | -1.8 | -4.0 |
Flats | -1.0 | -1.2 | -1.8 | 0.0 | -2.0 | -4.1 |
Houses | -0.6 | -1.0 | -1.9 | 0.9 | -1.6 | -3.8 |
- (p): provisional; (d): definitive.
- Scope: France (excluding Mayotte).
- Sources: INSEE, ADSN – BIEN – Grand Paris notaries, French notaries, Perval society.
Second-hand dwelling prices continued to fall in Île-de-France
In Q4 2023, the prices of second-hand dwellings in Île-de-France went down over a quarter for the fifth quarter in a row: ‑1.7%, after ‑2.1% in Q3 and ‑2.0% in Q2. The fall was more marked for flats (-1.9%) than for houses (-1.2%). Flat prices continued to fall in Paris (‑2.0% in Q4 after ‑1.4% in Q3), immediate suburbs (‑1.7% after ‑2.1%) and the outer suburbs (‑1.9% after ‑2.2%).
Over a year, prices of second-hand dwellings in Île-de-France fell sharply in Q4 2023: ‑6.9%, after ‑5.4% in Q3 and ‑3.1% in Q2. They fell at a same rate for flats (-6.9% after -5.4%) and houses in Île-de-France (-6.8% after -5.4%). The year-on-year fall in flat prices continued to fall in Paris (‑6.8% after ‑5.4%), immediate suburbs (‑7.5% after ‑6.0%) and the outer suburbs (‑6.2% after ‑4.0%).
In Provincial France, the decline in prices of second-hand dwellings intensified
In Q4 2023, the fall in prices of second-hand dwellings in Provincial France intensified: ‑1.9% after ‑0.8% in Q3 2023 and ‑0.4 in Q2 2023.
Over a year, prices fell for the second time in a row: ‑2.9% in Q4 2023, after ‑0.5% in Q3 2023. House prices continued to decline (‑3.3% after ‑1.0%), while flat prices fell for the first time since 2016 (-2.0% after +0.5%).
tableauSecond-hand dwellings price index in metropolitan France
Province - flats | Province - houses | Île-de-France - flats | Île-de-France - houses | |
---|---|---|---|---|
2023-Q4 | 132.6 | 132.0 | 119.8 | 118.6 |
2023-Q3 | 135.0 | 134.6 | 122.1 | 120.1 |
2023-Q2 | 136.1 | 135.6 | 124.3 | 123.3 |
2023-Q1 | 136.3 | 136.2 | 127.1 | 125.4 |
2022-Q4 | 135.3 | 136.4 | 128.7 | 127.2 |
2022-Q3 | 134.4 | 136.1 | 129.1 | 127.1 |
2022-Q2 | 132.4 | 133.8 | 129.0 | 125.5 |
2022-Q1 | 130.1 | 131.6 | 128.7 | 124.5 |
2021-Q4 | 128.2 | 128.8 | 127.7 | 122.8 |
2021-Q3 | 125.4 | 125.4 | 128.6 | 120.6 |
2021-Q2 | 123.2 | 122.7 | 127.9 | 118.7 |
2021-Q1 | 120.6 | 119.8 | 127.4 | 117.5 |
2020-Q4 | 118.6 | 117.7 | 127.6 | 115.5 |
2020-Q3 | 116.5 | 114.5 | 125.7 | 112.5 |
2020-Q2 | 115.2 | 114.1 | 125.2 | 111.9 |
2020-Q1 | 113.5 | 112.5 | 123.0 | 109.6 |
2019-Q4 | 111.2 | 110.7 | 120.5 | 108.2 |
2019-Q3 | 109.4 | 109.9 | 118.2 | 107.9 |
2019-Q2 | 108.1 | 108.9 | 116.7 | 106.8 |
2019-Q1 | 107.0 | 108.0 | 115.2 | 106.3 |
2018-Q4 | 106.0 | 107.5 | 113.7 | 107.3 |
2018-Q3 | 105.8 | 106.9 | 112.6 | 106.2 |
2018-Q2 | 104.2 | 106.1 | 111.1 | 105.8 |
2018-Q1 | 104.1 | 105.4 | 109.8 | 105.0 |
2017-Q4 | 103.3 | 104.2 | 108.8 | 104.4 |
2017-Q3 | 103.1 | 104.0 | 108.0 | 103.8 |
2017-Q2 | 102.3 | 103.3 | 106.1 | 103.1 |
2017-Q1 | 101.6 | 103.0 | 104.5 | 102.5 |
2016-Q4 | 100.2 | 101.7 | 103.0 | 101.6 |
2016-Q3 | 99.6 | 101.6 | 102.2 | 101.3 |
2016-Q2 | 99.5 | 100.6 | 101.4 | 100.9 |
2016-Q1 | 99.6 | 100.9 | 100.4 | 100.5 |
2015-Q4 | 99.8 | 100.4 | 100.1 | 99.9 |
2015-Q3 | 99.9 | 100.0 | 99.9 | 100.0 |
2015-Q2 | 99.9 | 99.9 | 99.8 | 99.7 |
2015-Q1 | 100.6 | 100.0 | 100.3 | 100.0 |
2014-Q4 | 100.9 | 100.2 | 101.2 | 100.3 |
2014-Q3 | 102.2 | 101.7 | 101.5 | 101.6 |
2014-Q2 | 103.2 | 102.4 | 102.6 | 101.6 |
2014-Q1 | 103.6 | 102.2 | 103.0 | 102.2 |
2013-Q4 | 104.0 | 102.8 | 102.9 | 103.3 |
2013-Q3 | 104.1 | 102.7 | 103.5 | 103.4 |
2013-Q2 | 104.3 | 103.6 | 104.2 | 104.5 |
2013-Q1 | 105.0 | 104.4 | 104.6 | 104.9 |
2012-Q4 | 105.8 | 104.9 | 104.7 | 105.2 |
2012-Q3 | 106.1 | 105.9 | 105.2 | 105.0 |
2012-Q2 | 107.2 | 106.5 | 105.2 | 106.2 |
2012-Q1 | 107.8 | 107.1 | 105.1 | 106.9 |
2011-Q4 | 108.0 | 107.7 | 105.5 | 107.1 |
2011-Q3 | 108.0 | 108.4 | 105.0 | 107.0 |
2011-Q2 | 107.2 | 108.1 | 103.4 | 105.7 |
2011-Q1 | 106.1 | 107.2 | 99.2 | 103.8 |
2010-Q4 | 105.4 | 106.4 | 95.6 | 102.0 |
2010-Q3 | 103.9 | 104.7 | 92.0 | 100.0 |
2010-Q2 | 102.4 | 103.6 | 89.4 | 98.8 |
2010-Q1 | 101.0 | 102.4 | 86.8 | 97.2 |
2009-Q4 | 99.3 | 100.9 | 84.1 | 93.8 |
2009-Q3 | 98.3 | 99.9 | 82.7 | 93.2 |
2009-Q2 | 98.0 | 100.0 | 82.3 | 92.8 |
2009-Q1 | 99.5 | 101.9 | 84.7 | 95.8 |
2008-Q4 | 102.3 | 105.2 | 87.6 | 101.0 |
2008-Q3 | 104.8 | 108.9 | 89.0 | 104.4 |
2008-Q2 | 106.4 | 110.3 | 89.2 | 105.9 |
2008-Q1 | 106.7 | 111.3 | 88.4 | 105.9 |
2007-Q4 | 106.3 | 110.9 | 87.6 | 106.3 |
2007-Q3 | 104.8 | 109.6 | 85.4 | 105.0 |
2007-Q2 | 103.6 | 108.6 | 84.0 | 104.5 |
2007-Q1 | 102.7 | 107.2 | 82.6 | 103.5 |
2006-Q4 | 101.9 | 105.9 | 81.0 | 100.7 |
2006-Q3 | 100.0 | 103.8 | 79.5 | 99.5 |
2006-Q2 | 97.6 | 101.9 | 78.0 | 97.5 |
2006-Q1 | 95.3 | 99.5 | 75.8 | 95.0 |
2005-Q4 | 92.1 | 96.8 | 73.5 | 91.8 |
2005-Q3 | 89.0 | 94.3 | 71.5 | 88.4 |
2005-Q2 | 86.1 | 91.2 | 68.6 | 85.4 |
2005-Q1 | 82.5 | 88.4 | 66.2 | 82.1 |
2004-Q4 | 79.5 | 85.3 | 63.8 | 79.4 |
2004-Q3 | 76.2 | 82.2 | 61.4 | 77.0 |
2004-Q2 | 73.0 | 79.5 | 59.4 | 74.1 |
2004-Q1 | 70.3 | 77.1 | 57.2 | 72.0 |
2003-Q4 | 66.6 | 74.6 | 55.1 | 69.7 |
2003-Q3 | 64.4 | 72.3 | 53.3 | 66.8 |
2003-Q2 | 62.0 | 70.4 | 51.9 | 65.0 |
2003-Q1 | 59.7 | 68.5 | 50.3 | 63.5 |
2002-Q4 | 58.0 | 67.0 | 48.8 | 62.2 |
2002-Q3 | 56.2 | 65.2 | 47.4 | 61.4 |
2002-Q2 | 54.3 | 63.4 | 46.1 | 60.1 |
2002-Q1 | 52.8 | 62.0 | 44.8 | 58.8 |
2001-Q4 | 51.8 | 60.7 | 44.2 | 58.5 |
2001-Q3 | 50.5 | 59.6 | 43.5 | 58.0 |
2001-Q2 | 50.0 | 58.6 | 42.5 | 57.5 |
2001-Q1 | 48.9 | 57.3 | 41.9 | 55.8 |
2000-Q4 | 47.8 | 56.1 | 40.9 | 54.8 |
2000-Q3 | 47.3 | 55.2 | 40.3 | 54.1 |
2000-Q2 | 46.4 | 54.0 | 39.4 | 52.9 |
2000-Q1 | 45.7 | 53.1 | 38.4 | 52.2 |
graphiqueSecond-hand dwellings price index in metropolitan France

- Scope: Metropolitan France.
- Sources: INSEE, French notaries - ADSN Group, Grand Paris notaries - PNS.
tableauVariation in prices of second-hand dwellings in metropolitan France
Change in | ||||||
---|---|---|---|---|---|---|
3 months (S.A.) | 12 months | |||||
2023 Q2 (d) | 2023 Q3 (d) | 2023 Q4 (p) | 2023 Q2 (d) | 2023 Q3 (d) | 2023 Q4 (p) | |
Metropolitan France | -0.8 | -1.1 | -1.8 | 0.5 | -1.8 | -3.9 |
Île-de-France | -2.0 | -2.1 | -1.7 | -3.1 | -5.4 | -6.9 |
Provincial France | -0.4 | -0.8 | -1.9 | 1.8 | -0.5 | -2.9 |
- Auvergne-Rhône-Alpes | -0.7 | -0.8 | -2.4 | 1.0 | -1.5 | -4.1 |
- Hauts-de-France | -0.7 | -1.3 | -1.4 | -1.0 | -3.1 | -4.4 |
- Provence-Alpes-Côte d'Azur | 0.8 | -0.3 | -1.4 | 4.6 | 1.6 | -0.6 |
Flats | -1.0 | -1.2 | -1.8 | 0.0 | -2.0 | -4.1 |
Île-de-France | -2.2 | -1.8 | -1.9 | -3.7 | -5.4 | -6.9 |
- Paris | -2.4 | -1.4 | -2.0 | -4.4 | -5.4 | -6.8 |
- Immediate suburbs | -2.1 | -2.1 | -1.7 | -3.8 | -6.0 | -7.5 |
- Outer suburbs | -1.7 | -2.2 | -1.9 | -1.7 | -4.0 | -6.2 |
Provincial France | -0.2 | -0.8 | -1.8 | 2.8 | 0.5 | -2.0 |
- Conurbation > 10 000 inhabitants | -0.3 | -1.0 | -1.9 | 2.5 | 0.1 | -2.4 |
Central town | -0.5 | -1.2 | -2.2 | 2.2 | -0.4 | -3.2 |
Suburb | 0.1 | -0.7 | -1.3 | 3.1 | 1.0 | -1.1 |
- Conurbation < 10 000 inhabitants | 0.9 | 0.5 | -1.0 | 5.3 | 3.8 | 1.4 |
- Auvergne-Rhône-Alpes | -0.4 | -1.4 | -1.7 | 1.5 | -0.9 | -3.4 |
Lyon | -2.5 | -3.1 | -2.6 | -4.4 | -7.2 | -9.3 |
- Hauts-de-France | -2.4 | 1.1 | -1.3 | -0.4 | -0.2 | -0.8 |
- Provence-Alpes-Côte d'Azur | 1.5 | -0.3 | -1.2 | 5.8 | 3.2 | 1.0 |
Marseille | -0.5 | -1.0 | -3.5 | 3.8 | 0.6 | -3.3 |
Houses | -0.6 | -1.0 | -1.8 | 0.9 | -1.6 | -3.8 |
Île-de-France | -1.6 | -2.6 | -1.2 | -1.9 | -5.4 | -6.8 |
- Immediate suburbs | -1.9 | -2.9 | -0.3 | -2.3 | -6.0 | -5.8 |
- Outer suburbs | -1.5 | -2.5 | -1.6 | -1.7 | -5.2 | -7.3 |
Provincial France | -0.5 | -0.8 | -1.9 | 1.3 | -1.0 | -3.3 |
- Auvergne-Rhône-Alpes | -1.0 | -0.3 | -3.0 | 0.5 | -2.0 | -4.6 |
- Hauts-de-France | -0.3 | -1.8 | -1.4 | -1.2 | -3.6 | -5.0 |
Conurbation of Lille | -1.0 | -3.5 | 0.6 | -1.3 | -5.4 | -5.3 |
- Provence-Alpes-Côte d'Azur | 0.2 | -0.3 | -1.5 | 3.5 | 0.1 | -2.2 |
- Additional data (for example by department in Île-de-France) are available on the web page of the indicator.
- (p): provisional; (d): definitive.
- Scope: Metropolitan France.
- Sources: INSEE, ADSN – BIEN – Grand Paris notaries. French notaries. Perval society.
The annual number of transactions continued to fall
The annual volume of transactions kept falling since Q3 2021: at the end of December 2023, the annual number of transactions over the last twelve months was estimated at 869,000, after 1,115,000 at the end of December 2022 and 1,176,000 at the end of December 2021 (that is a fall of 26% in two years). The proportion of transactions concerned 2.3% of the dwelling stock, decreasing since the high point in Q3 2021 (3.2%) and now below the level of the early 2000s, prior the economics crisis of 2008.
tableauVolume of transactions of second-hand dwellings over the last 12 months
Volume of transactions of second-hand dwellings over the last 12 months | |
---|---|
2023-Q4 | 869 |
2023-Q3 | 928 |
2023-Q2 | 1001 |
2023-Q1 | 1070 |
2022-Q4 | 1115 |
2022-Q3 | 1138 |
2022-Q2 | 1160 |
2022-Q1 | 1177 |
2021-Q4 | 1176 |
2021-Q3 | 1201 |
2021-Q2 | 1151 |
2021-Q1 | 1078 |
2020-Q4 | 1025 |
2020-Q3 | 993 |
2020-Q2 | 1015 |
2020-Q1 | 1048 |
2019-Q4 | 1077 |
2019-Q3 | 1053 |
2019-Q2 | 1026 |
2019-Q1 | 992 |
2018-Q4 | 975 |
2018-Q3 | 964 |
2018-Q2 | 959 |
2018-Q1 | 962 |
2017-Q4 | 964 |
2017-Q3 | 950 |
2017-Q2 | 917 |
2017-Q1 | 876 |
2016-Q4 | 843 |
2016-Q3 | 824 |
2016-Q2 | 817 |
2016-Q1 | 807 |
2015-Q4 | 795 |
2015-Q3 | 750 |
2015-Q2 | 710 |
2015-Q1 | 691 |
2014-Q4 | 689 |
2014-Q3 | 722 |
2014-Q2 | 733 |
2014-Q1 | 733 |
2013-Q4 | 716 |
2013-Q3 | 687 |
2013-Q2 | 675 |
2013-Q1 | 661 |
2012-Q4 | 708 |
2012-Q3 | 734 |
2012-Q2 | 781 |
2012-Q1 | 816 |
2011-Q4 | 801 |
2011-Q3 | 821 |
2011-Q2 | 807 |
2011-Q1 | 796 |
2010-Q4 | 776 |
2010-Q3 | 737 |
2010-Q2 | 699 |
2010-Q1 | 656 |
2009-Q4 | 595 |
2009-Q3 | 568 |
2009-Q2 | 578 |
2009-Q1 | 610 |
2008-Q4 | 674 |
2008-Q3 | 717 |
2008-Q2 | 758 |
2008-Q1 | 796 |
2007-Q4 | 810 |
2007-Q3 | 821 |
2007-Q2 | 822 |
2007-Q1 | 813 |
2006-Q4 | 821 |
2006-Q3 | 832 |
2006-Q2 | 836 |
2006-Q1 | 834 |
2005-Q4 | 829 |
2005-Q3 | 821 |
2005-Q2 | 816 |
2005-Q1 | 826 |
2004-Q4 | 823 |
2004-Q3 | 827 |
2004-Q2 | 836 |
2004-Q1 | 824 |
2003-Q4 | 814 |
2003-Q3 | 806 |
2003-Q2 | 794 |
2003-Q1 | 798 |
2002-Q4 | 811 |
2002-Q3 | 803 |
2002-Q2 | 799 |
2002-Q1 | 793 |
2001-Q4 | 784 |
2001-Q3 | 791 |
2001-Q2 | 789 |
2001-Q1 | 785 |
2000-Q4 | 793 |
2000-Q3 | 780 |
2000-Q2 | 768 |
2000-Q1 | 755 |
graphiqueVolume of transactions of second-hand dwellings over the last 12 months

- Scope: France (excluding Mayotte).
- Sources: IGEDD, based on notarial databases and DGFiP (MEDOC).
Revisions
The second-hand housing price index may be revised in order to include observations recorded after the previous publication.
In comparison with the results released on 30 November 2023, the quarterly change in prices of second-hand dwellings in France (excluding Mayotte) in Q3 2023 is not revised (after rounding): ‑1.1%.
For further information
Notaries-INSEE second-hand dwellings price index
The calculation of indices is based on the transactions completed over the quarter. The methodology is based on models explaining the price of housing according to its characteristics. The current value of a reference housing stock is estimated thanks to these models. Methodological principles of calculation of indices may be found in « Les indices Notaires-Insee de prix des logements anciens », Insee Méthodes number 132 released in June 2019 (in French only).
Next issue: 28 May 2024 at 8:45 am.
Pour en savoir plus
Notaries-INSEE second-hand dwellings price index
The calculation of indices is based on the transactions completed over the quarter. The methodology is based on models explaining the price of housing according to its characteristics. The current value of a reference housing stock is estimated thanks to these models. Methodological principles of calculation of indices may be found in « Les indices Notaires-Insee de prix des logements anciens », Insee Méthodes number 132 released in June 2019 (in French only).
Next issue: 28 May 2024 at 8:45 am.